New Jersey Casino, Sports Betting Revenue Nearly $510M In May

Casino and sports betting revenue in New Jersey reached nearly $510 million in May 2024, an 8.5% increase over May 2023, according to figures released Friday by the state’s Division of Gaming Enforcement (DGE).

New Jersey casino operators won nearly $223 million from in-person gamblers, a 5.2% increase from a year earlier

Online wagering continued its dominance in May, falling just shy of the record it set in March. New Jersey’s nine casinos won nearly $223 million from in-person gamblers, an increase of 5.2% from a year earlier.

According to the DGE’s report, Internet Gaming Win reported by casinos and their partners was $192.1 million. It reflects 19% growth compared to $161.4 million reported in May 2023.

For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $942.8 million. That also reflects growth of 20.6% when compared to $781.5 million for the prior year-to-date period.

“May provided a promising start for the summer season, and positive momentum has been building,” James Plousis, chairman of the New Jersey Casino Control Commission said in a statement.

Only three casinos — Borgata, Ocean and Hard Rock — won more from in-person gamblers last month than the operators did in May 2019.

As for in-person winnings, Borgata won $61.4 million, up 1.5% from a year earlier. Hard Rock won nearly $50 million, up 28.6%, and Ocean won nearly $32 million, up 7.5%.

Tropicana won $20.1 million, down 7%; Harrah’s won $18.2 million, down 4.2%; Caesars won nearly $18 million, down 2%; Resorts won $13.6 million, up 1.2%; Golden Nugget won $13.5 million, up 7.1%; and Bally’s won $12.4 million, down 5.8%.

Resorts Digital was the most profitable online sports wagering operator with $22 million

When revenue from sports betting and online casino gambling are included, Borgata won almost $111 million, down 0.3%; Golden Nugget won $68.1 million, up 21.2%; Hard Rock won nearly $64 million, up 32.6%; and Tropicana won $39.3 million, up 16.5%.

Ocean won $39.1 million, up 16.5%; Bally’s won $23 million, up 14.3%; Harrah’s won $19.8 million, up nearly 4%; Caesars won $17.5 million, down nearly 5%; and Resorts won $13.5 million, down 0.4%.

While Resorts Digital won $71.3 million, up 17.6%, Caesars Interactive Entertainment NJ won just $332,123. That’s a 96% drop. The casinos and horse tracks accepted $839 million worth of wagers in May. Of that amount, $78.7 million was kept as revenue after winning bets were paid out.

Resorts Digital leads all other operators in 2024 sports betting revenue with $22 million. However, Borgata tops the list for total gaming revenue with $110.9 million. Resorts Digital is second with $71.3 million as well.

Furthermore, New Jersey’s three racetrack licensees are Freehold Raceway, Meadowlands, and Monmouth Park. The casinos and tracks have collected over $6 billion in bets so far this year. About $513 million of that amount has been retained as revenue.

Mobile wagering generated $192 million in May for the Garden State. Last month’s performance was up 19% from a year earlier, and it fell just below the record of $197 million set in March.

According to the year-to-date total handle statistics, retail sports wagering has generated a monthly handle of $37.4 million. Internet sports wagering in New Jersey has posted a whopping monthly handle of $801.4 million.